Bill Text: IL SB0148 | 2015-2016 | 99th General Assembly | Introduced
Bill Title: Amends the Illinois Securities Law of 1953. Makes a technical change in a Section concerning the definition of security.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2015-04-21 - Re-referred to Assignments [SB0148 Detail]
Download: Illinois-2015-SB0148-Introduced.html
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1 | AN ACT concerning business.
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2 | Be it enacted by the People of the State of Illinois, | |||||||||||||||||||
3 | represented in the General Assembly:
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4 | Section 5. The Illinois Securities Law of 1953 is amended | |||||||||||||||||||
5 | by changing Section 2.1 as follows:
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6 | (815 ILCS 5/2.1) (from Ch. 121 1/2, par. 137.2-1)
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7 | Sec. 2.1. Security. "Security" means any note, stock, | |||||||||||||||||||
8 | treasury stock,
bond, debenture, evidence of indebtedness, | |||||||||||||||||||
9 | certificate of interest or
participation in any profit-sharing | |||||||||||||||||||
10 | agreement, collateral-trust
certificate, preorganization | |||||||||||||||||||
11 | certificate or subscription, transferable
share, investment | |||||||||||||||||||
12 | contract, viatical investment, investment fund share, | |||||||||||||||||||
13 | face-amount certificate,
voting-trust certificate, certificate | |||||||||||||||||||
14 | of deposit
for a security, fractional
undivided interest in | |||||||||||||||||||
15 | oil, gas or other mineral lease, right or royalty,
any put, | |||||||||||||||||||
16 | call, straddle, option, or privilege on any security, | |||||||||||||||||||
17 | certificate
of deposit, or group or index of securities | |||||||||||||||||||
18 | (including any interest therein
or based on the
the value | |||||||||||||||||||
19 | thereof), or any put, call, straddle, option, or
privilege | |||||||||||||||||||
20 | entered into, relating to
foreign currency, or, in general, any | |||||||||||||||||||
21 | interest or instrument commonly known
as a "security", or any | |||||||||||||||||||
22 | certificate of interest or participation in,
temporary or | |||||||||||||||||||
23 | interim certificate for, receipt for, guarantee of, or warrant
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1 | or right to subscribe to or purchase, any of the foregoing.
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2 | "Security" does not mean a mineral investment contract or a | ||||||
3 | mineral
deferred delivery contract; provided, however, the | ||||||
4 | Department shall have
the authority to regulate these contracts | ||||||
5 | as hereinafter provided. | ||||||
6 | (Source: P.A. 96-736, eff. 7-1-10 .)
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